Closing O2 mobile contract and credit score impact

ChewyyBacca

Hi,

Opening a contract impacts the credit score. How about closing a contract?

I'm out of the fixed contract with O2. I'd like to close my current running O2 contract and go with the MSE Blagged sim-only no-contract deal.

What's the impact, if any?

Thanks

TadleyBaggie

Who cares? Credit score are made up numbers that no one else can see.

Phoenix72

As above, your focus should be on your credit history not your score. If it's a no-contract that won't appear on your credit file then what other credit facilities do you have to show a history?

CliveOfIndia

ChewyyBacca said:

Opening a contract impacts the credit score. How about closing a contract?

Closing it will in all probability make the score drop as well.  The score will drop in response to any change to your credit circumstances, whether good, bad or indifferent.

But, as the previous poster correctly says, the score you see means absolutely nothing.  It's merely a marketing gimmick invented by the CRAs and is not used - not even seen - by any lender.

All a lender is interested in is the factual data contained within your credit file - how much debt you're currently carrying, your track record of making repayments on time, that sort of thing.

Yes, they will give you an internal credit score based on their own internal lending criteria, based upon the raw data from your credit file - but the only people privy to that information will be the lender's own credit risk team